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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- PTC India Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
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